FET's 15% Pump Has Traders Talking OpenAI, But Exchange Bags Suggest Someone's Ready to Sell 👜

The Artificial Superintelligence Alliance token $FET climbed 15.49% over the past 24 hours as trading volume rose 31.37%, lifting the project's market capitalization to $480.78 million. The move came amid renewed optimism across AI-linked digital assets, with traders reacting to reports surrounding OpenAI's IPO ambitions and ongoing interest in decentralized AI infrastructure narratives. FET, tied closely to the Decentralized AI Edge initiative, drew capital as participants rotated into AI-focused tokens in search of returns beyond large-cap cryptocurrencies.

Beneath the rally, on-chain data showed Exchange Reserve increasing 11.47% to $60.72 million, a notable divergence given $FET's strong price recovery. Rising exchange-held supply typically signals greater token availability for trading and can improve liquidity during periods of elevated demand, though it also indicates that some holders may have positioned to realize profits after the recent advance. Market participants engaged on both sides rather than committing exclusively to accumulation.

On the price chart, $FET rebounded from the $0.1823 support level and recovered toward $0.2136 after defending a critical demand area, with price holding above recent lows following an early June decline. The Relative Strength Index climbed to 49.61 from weaker readings, approaching the neutral 50 threshold and reflecting strengthening conditions without entering overheated territory. The $0.2538 level remained the most important resistance ahead of any attempt toward $0.3000, while repeated defense of support strengthened the structure around current levels.

Derivatives sentiment improved as the OI-Weighted Funding Rate turned positive at 0.0002%, indicating that long-position holders had regained confidence and accepted additional costs to maintain exposure. Funding stayed positive through the most recent sessions, signaling growing bullish conviction among leveraged participants following earlier periods of deeper negative readings. If $FET clears $0.2538, the recovery could extend toward higher resistance zones, and a rejection could send price back toward support near $0.1823 before establishing a clearer directional trend.